Investor Presentaiton
Florida Residential
Market Trends
Low interest rates locked in during
in the years leading up to CY2022
have disincentivized current
owners from selling. A higher
interest rate environment today
makes the prospect of financing a
more difficult consideration.
Buyers are facing a dearth of
existing home inventory and as
such, prices are holding steady at
or near their high-water mark.
Along with higher interest rates,
buyers are facing higher monthly
payments than in years past.
Florida has undergone a
particularly stark increase in home
prices since 2021, among the
highest in the country.
Domestic demand slowed in 2022,
rebalancing the market somewhat,
but supply remained tight into 2023.
At the end of July 2023, Florida's
single-family home inventory was
still 24% lower than February 2020,
before the pandemic began.
Statewide, the median sale price
for a single-family home reached
$420,000. All Florida metros saw
continue to see growth in the
median sale price comparing the
current survey period (August
2022-July 2023) to the prior year,
but no longer the double-digit
growth seen in the previous year.
Annual Rate of Price Growth in Most Florida Metros Back to Single-Digits
Naples-Immokalee-Marco Island, FL
Metropolitan Statistical Area
Cape Coral-Fort Myers, FL
Single-Family Median Sale Price
Aug. 2021-
Jul.2022
Aug. 2022-
Jul.2023
Pct. Change
$411K
$425K
3%
Crestview-Fort Walton Beach-Destin, FL
Deltona-Daytona Beach-Ormond Beach, FL
$410K
$413K
1%
$335K
$353K
5%
Gainesville, FL
$325K
$349K
7%
Homosassa Springs, FL
$265K
$275K
4%
Jacksonville, FL
$365K
$387K
6%
Lakeland-Winter Haven, FL
$317K
$335K
6%
Miami-Fort Lauderdale-West Palm Beach, FL
$530K
$575K
8%
$735K
$790K
7%
North Port-Sarasota-Bradenton, FL
$465K
$515K
11%
Ocala, FL
Orlando-Kissimmee-Sanford, FL
$265K
$283K
7%
$400K
$428K
7%
Palm Bay-Melbourne-Titusville, FL
Panama City, FL
$340K
$359K
6%
$337K
$368K
9%
Pensacola-Ferry Pass-Brent, FL
$315K
$325K
3%
Port St. Lucie, FL
$379K
$401K
6%
Punta Gorda, FL
$365K
$383K
5%
Sebastian-Vero Beach, FL
$357K
$384K
8%
Sebring, FL
$240K
$260K
8%
Tallahassee, FL
$295K
$320K
8%
Tampa-St. Petersburg-Clearwater, FL
$375K
$400K
7%
The Villages, FL
$362K
$370K
2%
Source: Florida Realtors Research produced with data provided by Florida's multiple listing services
Florida Realtors®, all rights reserved.
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